Will GST Be Increased to 15% ?

Our friends at RoarPrawn are on assignment in a secret location in the Bay of Plenty and claim to have stumbled upon some hot gossip:

"... the gossip running through the accountancy world is that an increase in GST is pending. - Up from 12.5 to 15 percent. We hear that some bean counters are warning businesses to get their systems ready for the increase which they think will happen pretty soon."

Hmmm...small businesses better start contemplating what changes they will need to make in their operations if they are to have a greater role in the tax collection racket.